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Which section of the society is worst affected during inflation? Why? - Economic Applications

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Question

Which section of the society is worst affected during inflation? Why?

Answer in Brief

Solution

The poor are worst affected during inflation. In times of inflation, poor people are able to buy lesser and lesser amount of goods and services than before. The rich become richer at the cost of the poor.

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Effects of Inflation
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Chapter 10: Inflation - QUESTION BANK [Page 227]

APPEARS IN

Goyal Brothers Prakashan Economic Application [English] Class 10 ICSE
Chapter 10 Inflation
QUESTION BANK | Q 12. | Page 227
Goyal Brothers Prakashan Economics [English] Class 10 ICSE
Chapter 13 Inflation
QUESTION BANK | Q 10. | Page 201
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